Panama Approves Canal Toll Increase

press release
Wednesday, August 08, 2012

Implementation of new pricing for certain segments moved to October 2012 and October 2013; new tolls said to move Canal's price closer to value of services provided.


Following the recommendation from the Board of Directors of the Panama Canal Authority (ACP), the Cabinet Council of the Government of the Republic of Panama approved yesterday the proposal to restructure the Panama Canal’s pricing system.  “The new tolls structure was conceived in accordance with the commercial value that the route offers its users.  We look forward to working alongside the industry to continue offering a reliable and competitive service,” said Panama Canal Authority Administrator/CEO Alberto Alemán Zubieta.
 

The new tolls were postponed to October 2012 and October 2013, respectively. 
 

“The new structure offers price stability to the Panama Canal clients during the next two years, while the approved tolls remain below the value it offers as a safe, reliable and efficient route,” added Alemán Zubieta.
 

New Segments
 

The new structure increases the number of segments from eight to ten. It also breaks down the tanker segment into three distinct segments and incorporates the roll-on/roll-off vessels into the vehicle carrier segment. The Panama Canal market segmentation structure includes the following: (1) full container, (2) reefer, (3) dry bulk, (4) passenger, (5) vehicle carrier and ro-ro, (6) tanker, (7) chemical tanker, (8) LPG, (9) general cargo and (10) others. The container/breakbulk segment, which was included in the original proposal, has been eliminated.
 

The ACP will increase the tolls for the following segments:
 

•       general cargo
•       dry bulk
•       tanker
•       chemical tanker
•       LPG
•       vehicle carrier and ro-ro
•       others


The remaining segments will not be adjusted at this time, nor will the price per TEU for containers carried onboard a vessel. Additionally, there will be changes to tolls applicable to small vessels based on vessel length, to incorporate adjustments not previously considered.
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Chevron Suffers Loss, Plans Job Cuts

Chevron Corp. reported a first-quarter loss as slumping oil prices continued to drag down revenue. The company said that it is "on target" to lay off a total of 8000 workers by the end of 2016,

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

Sellick Equipment to Open New Facility

On April, 20, 2016, at the young age of 97 years, Walter Sellick along with sons Howard Sellick - President, David Sellick - Vice President and grandson Colin Sellick - Systems Manager,

Container Ships

Drug Interception at Red Hook Container Terminal

Approximately 121 pounds of heroin and eight pounds of cocaine were discovered in a shipping container of vegetables that was moving from Ecuador to Miami, Fla.

China COSCO to be First through the Expanded Panama Canal

China COSCO Shipping has won the draw for its container vessel Andronikos to make the ceremonial first transit through the Expanded Panama Canal during the waterway’s inauguration on Sunday, June 26.

EU Clears CMA CGM, NOL Merger, with Conditions

The European Commission said on Friday it had cleared French shipping group CMA CGM's $2.4 billion takeover of Neptune Orient Lines on condition that NOL pulls out from a rival shipping alliance.

Government Update

Holland America Line Kicks off Seattle's Record Cruise Season

The Port of Seattle begins the 2016 cruise season welcoming the first ship call, Holland America Cruise Line’s Nieuw Amsterdam. Larger vessels and more cruises

MARAD: $5 Mln Available for Marine Highway Projects

The Maritime Administration (MARAD) has announced the availability of $5 million in Federal funding to expand marine highway service by creating new or expanding

Pacific Nations Take a Stand on Shipping Emissions

On Earth Day, Pacific leaders queued among 175 countries to sign the Paris Agreement in New York. Earlier that day in London, the International Maritime Organization (IMO),

Logistics

Shipping Industry Flying On The Dragon’s Back

As the many Greek players in the shipping industry know well, the legend of Icarus tells us the dangers of flying too high. Merchant vessel earnings eventually

Panama Canal Dismisses ITF Claims

The Panama Canal has dismisses claims by the International Transport Workers’ Federation (ITF) that questions industry standards and the operation of the Expanded Panama Canal’s new locks.

Shipping, Key Ingredient of EU’s Africa Agenda

The African economy has become one of the most promising global growth markets. Shipping is taking care of the largest part of international trade and in Africa

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1054 sec (9 req/sec)